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DE

Deere & Company

6/18/2013, 12:59 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Wednesday, June 12, 12:50 PM Caterpillar's (CAT -0.3%) news that it will be raising its quarterly dividend by 15.4% failed to impress shareholders today, ticking lower since the open. The weakness is surprising given the fact that the hike was above last year's 13% increase and the 4.5% bump the year prior. It also moves the dividend yield to an impressive 2.9%, which is above those of its competitors Deere (DE -0.9%) at 2.4%, Cummins (CMI -0.8%) at 1.7% and Joy Global (JOY +0.2%) at 1.3%. 1 Comment [Consumer, Global & FX]
Thursday, May 30, 9:00 AM Deere & Company (DE) declares $0.51/share quarterly dividend, in line with previous. Forward yield 2.34%. For shareholders of record June 28. Payable Aug 01. Ex-div date June 26. (PR) Comment! [Dividends]
Tuesday, May 21, 8:49 AM Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways," is #4 of Bob Farrell's "Market Rules to Remember." Channeling that, BAML's Steve Suttmeier sees stocks continuing their run with risks of a topping-out not arriving unti late summer. He's most bullish on industrials (XLI) - particularly "oversold" EXPD, DE, CAT, FDX - and also thinks financials (XLF) will remain market leaders. 4 Comments
Friday, May 17, 11:01 AM Goldman's Tuesday bear call on agricultural commodities has implications for Deere (DE -2.7%) which gets a downgrade to Sell from Neutral. Analyst Jerry Revich says "recovering commodity inventories point to lower U.S. farm income and capex." As recently bearish Barron's notes (channeling Wells Fargo's Andrew Casey) "as goes the North American corn crop, so goes DE's stock price." For their part, GS says only a "major weather shock" could keep corn crop (CORN +0.1%) prices "near their current levels." Price target: $85 from $98. Comment! [On the Move, Commodities]
Wednesday, May 15, 9:30 PM Barron's turns bearish on Deere (DE -4.4%) as events are playing out (earnings earlier) very much like Wells Fargo's Andrew Casey said they would when he downgraded the stock in March. On the earnings call, Casey noted Deere is now calling for an 8% decline in U.S. crop cash flow. Management calls it a wiggle from a very high level. Casey believes it to be an inflection point. If strong Latin American demand is now the bull thesis, buy AGCO instead for its higher exposure to that region, says RBC's Glenn Novarro. Comment!
Wednesday, May 15, 2:46 PM Caterpillar (CAT -1%) gets dragged down on Deere's (DE -5%) cautious sales outlook for the year, amid concerns that cool, wet weather in the U.S. will hamper this year's farm crop and hold down demand for farm machinery. 2 Comments [On the Move]
Wednesday, May 15, 7:14 AM More on Deere (DE) FQ2 earnings: Shares tumble 11.2% premarket (warning: In very thin trade. Update at 7:23: Shares now off 2%) on a cautious outlook not just about the world economy but adverse weather patterns. "Cool wet weather in North America has delayed crop planting, slowed construction activity and hurt sales of turf-care equipment." Earnings call at 10 ET. (PR) 2 Comments [Earnings, On the Move]
Wednesday, May 15, 7:02 AM Deere (DE): FQ2 EPS of $2.76 beats by $0.02. Revenue of $10.9B (+9% Y/Y) beats by $1.1B. (PR) Comment! [Earnings, Breaking News]
Wednesday, May 15, 12:05 AM Notable earnings before Wednesday’s open: AG, AH, CSC, DE, EJ, GLOG, M, OXF, PF, SVNT, WMC Comment! [Earnings]
Tuesday, May 14, 5:30 PM Notable earnings before Wednesday’s open: AG, AH, CSC, DE, EJ, GLOG, M, OXF, PF, SVNT, WMC Comment! [Earnings]
Wednesday, April 24, 12:33 PM "You can't see the other side of the trade," says Jim Chanos, holding court on CNBC for the hour. Be careful looking at 13Fs, he cautions, as managers cleverly put on positions designed to hedge or even mask their true intentions (he's currently long DE, but short other machinery stocks). "Servers are PCs on a rack," he says, not surprised Blackstone backed off DELL (he remains short, along with HPQ). Apple (AAPL)? He's long both it and Samsung (SSNLF.PK), but reminds it's more of a hedge against his PC shorts. China - along with any company (VALE) dependent on it - is still a short (presentation). 16 Comments
Monday, April 22, 5:41 PM Caterpillar gained today because its weak Q1 report was no worse than expected, but there's little chance of a snapack in global metals and mining later in 2013, 24/7's Jon Ogg writes. Bottoming out may take much longer than expected now, he warns, and sector investors may see more volatility and timing pain than in the past. (also) Today: CAT +2.8%, FCX +1.1%, JOY +0.5%, DE +0.4%, X -0.6%. 1 Comment [Global & FX]
Thursday, April 11, 8:51 AM Deere's (DE) U.S. and Canada utility and tractor sales enjoy "double digit" growth in March, outpacing sector-wide sales of +8%. Combine sales soar "triple digits" vs 67% for the industry. Retail sales of tractors down "double digits." (PR (audio)) Comment! [Earnings]
Wednesday, March 20, 4:52 PM Weakness in the U.S. ag market outlook due to weaker commodity prices in the years ahead was at the heart of downgrades (I, II) that sent Deere (DE -3.1%) and Agco (AGCO -3.9%) lower today. Wells Fargo cut its outlook for 2014-15 U.S. large farm equipment demand as commodity prices return to normal along with growing conditions, and on moderating U.S. corn-based ethanol consumption. 2 Comments [Consumer, Commodities, Quick Ideas, On the Move]
Tuesday, March 12, 10:17 AM Strategas analyst Daniel Clifton sees a better than 50% chance the Keystone pipeline (TRP) will be approved by late summer, and he thinks seven stocks will benefit directly or indirectly: CNQ, COP, DE, XOM, LYB, PWR and VLO - companies which already are doing well, and adding incremental revenue from Keystone should only help to improve their top and bottom lines. 6 Comments [Energy, Quick Ideas]
Wednesday, February 13, 7:12 AM More on Deere (DE) FQ1 earnings: Net worldwide equipment sales +11%, with U.S. and Canada +18%, the rest of the planet +2% (though currency translation cost 3%). FQ2 sales are expected +4%, full-year sales +6%. "Persistent global economic and fiscal concerns warrant continued caution." Shares +4.3% premarket. (PR) 1 Comment [Earnings, U.S. Economy]

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